Struggles

McClendon Out, but Chesapeake ‘Not for Sale’

McClendon Out, but Chesapeake ‘Not for Sale’

Energy analysts and the market weighed in Wednesday on the news that natural gas pioneer and industry cheerleader Aubrey K. McClendon, co-founder, CEO and president of Chesapeake Energy Corp., is retiring effective April 1. His departure would end one point of controversy, but it won’t solve the problems facing the producer, according to some.

January 31, 2013

MLPs Are Helping Industry; Labor Shortage Problems Loom, Panelists Say

The growing popularity of the master limited partnership (MLP) business structure is proving beneficial as the natural gas industry struggles to expand infrastructure, but another trend — a shortage of skilled workers — could present major problems in the near future, panelists told FERC.

November 12, 2007

MLPs Are Helping Industry; Labor Shortage Problems Loom, Panelists Say

The growing popularity of the master limited partnership (MLP) business structure is proving beneficial as the natural gas industry struggles to expand infrastructure, but another trend — a shortage of skilled workers — could present major problems in the near future, panelists told FERC.

November 9, 2007

Canadian Agencies Reject First Nation Claims

While the Mackenzie Gas Project struggles to make land access and benefits agreements with aboriginal centers along its pipeline route, regulators are doing their bit to prevent further delays by preventing the native relations sore spot from spreading.

October 4, 2005

El Paso Gets Reprieve from Lenders as It Struggles with Reserve Revision Debacle

Embattled El Paso Corp. said last Tuesday it received waivers from lenders on its $3 billion revolving credit facility in order to deal with potential issues arising from the company’s major downward adjustment to its oil and natural gas reserves.

March 22, 2004

El Paso Gets Reprieve from Lenders as It Struggles with Reserve Revision Debacle

Embattled El Paso Corp. said Tuesday it received waivers from lenders on its $3 billion revolving credit facility in order to deal with potential issues arising from the company’s major downward adjustment to its oil and natural gas reserves.

March 17, 2004

El Paso Struggles to Balance Debt, Grow Core Businesses; E&P Chief Resigns

El Paso Corp. reported a less-than-stellar third quarter earnings report last week, continuing a long-term plan to get debt levels in check without starving its remaining core businesses. CEO Doug Foshee stressed that the company is on track to divest $3.4 billion of assets by the end of this year, but said that going forward, “we won’t be able to sell our way to prosperity. We have to grow our core businesses.”

November 17, 2003

El Paso Takes $1.2B Hit in Quarter As It Struggles to Turn Around

El Paso Corp., owner of the largest U.S. natural gas pipeline system, last Wednesday reported an unexpectedly large net loss for the second quarter as a result of a series of write-offs tied to discontinued operations, asset impairments and the western energy settlement that it says were aimed at turning around the financially strapped company.

August 18, 2003

El Paso Takes $1.2B Hit in Quarter As It Struggles to Turn Around

El Paso Corp., owner of the largest U.S. natural gas pipeline system, on Wednesday reported an unexpectedly large net loss for the second quarter as a result of a series of write-offs tied to discontinued operations, asset impairments and the western energy settlement that it says are intended to turn the financially strapped company around.

August 14, 2003

S&P: Next Few Weeks ‘Crucial’ For Aquila

Aquila Inc.’s financial struggles are far from over, according to a report published Thursday by Standard & Poor’s Ratings Services (S&P). Analysts noted that the Kansas City-based utility has several serious concerns ahead, including the maturity of its credit facility in mid-April and a cash drain from natural gas prepay contracts and tolling agreements.

March 31, 2003
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